Barclays PLC Purchases 156,346 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Barclays PLC increased its position in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 54.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 441,734 shares of the company's stock after purchasing an additional 156,346 shares during the period. Barclays PLC owned about 0.17% of Gates Industrial worth $9,088,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sterling Capital Management LLC increased its holdings in Gates Industrial by 4.8% in the 4th quarter. Sterling Capital Management LLC now owns 132,319 shares of the company's stock valued at $2,722,000 after buying an additional 6,049 shares during the period. Kennedy Capital Management LLC increased its stake in Gates Industrial by 1.6% in the fourth quarter. Kennedy Capital Management LLC now owns 1,636,474 shares of the company's stock valued at $33,662,000 after acquiring an additional 26,143 shares during the period. Treasurer of the State of North Carolina raised its position in Gates Industrial by 16.2% in the fourth quarter. Treasurer of the State of North Carolina now owns 104,050 shares of the company's stock worth $2,140,000 after purchasing an additional 14,510 shares in the last quarter. Raymond James Financial Inc. bought a new position in Gates Industrial during the fourth quarter worth about $42,080,000. Finally, Legal & General Group Plc boosted its holdings in Gates Industrial by 3.2% during the fourth quarter. Legal & General Group Plc now owns 615,474 shares of the company's stock valued at $12,660,000 after purchasing an additional 19,169 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gates Industrial news, Director Fredrik J. Eliasson bought 60,000 shares of the stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the acquisition, the director now owns 188,452 shares of the company's stock, valued at approximately $3,686,121.12. The trade was a 46.71 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.30% of the company's stock.

Gates Industrial Stock Performance

Shares of Gates Industrial stock opened at $16.92 on Wednesday. The firm has a 50 day simple moving average of $19.23 and a 200 day simple moving average of $20.09. Gates Industrial Corp PLC has a fifty-two week low of $14.70 and a fifty-two week high of $23.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. The firm has a market cap of $4.32 billion, a P/E ratio of 23.18 and a beta of 1.24.

Gates Industrial (NYSE:GTES - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, hitting analysts' consensus estimates of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. Sell-side analysts predict that Gates Industrial Corp PLC will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GTES has been the subject of a number of recent research reports. Evercore ISI increased their target price on Gates Industrial from $22.00 to $23.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Citigroup cut their price objective on Gates Industrial from $27.00 to $21.00 and set a "buy" rating for the company in a report on Monday, April 14th. KeyCorp lowered their target price on shares of Gates Industrial from $27.00 to $21.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada lifted their price target on shares of Gates Industrial from $25.00 to $27.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group decreased their price objective on shares of Gates Industrial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.67.

Gates Industrial Company Profile

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.

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